Canada Goose (NYSE:GOOS) Issues Q1 2024 Earnings Guidance

Canada Goose (NYSE:GOOS – Get Rating) updated its first quarter 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of -$0.66–$0.61 for the period, compared to the consensus estimate of -$0.49. The company issued revenue guidance of $51.78 million-$59.18 million, compared to the consensus revenue estimate of $55.66 million. Canada Goose also updated its FY 2024 guidance to $0.89-$1.09 EPS.

Analyst Ratings Changes

A number of analysts recently weighed in on GOOS shares. UBS Group reduced their price objective on shares of Canada Goose from $23.00 to $20.00 and set a neutral rating on the stock in a research report on Wednesday, March 29th. Barclays downgraded Canada Goose from an overweight rating to an equal weight rating in a research report on Tuesday, May 2nd. Bank of America decreased their target price on Canada Goose from $17.00 to $14.80 in a research report on Thursday, May 18th. Credit Suisse Group lifted their target price on Canada Goose from C$30.00 to C$36.00 in a research report on Wednesday, February 8th. Finally, Cowen decreased their target price on Canada Goose from $26.00 to $22.00 and set an outperform rating for the company in a research report on Friday, February 3rd. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Canada Goose has a consensus rating of Hold and an average target price of $25.85.

Canada Goose Stock Performance

Shares of NYSE:GOOS traded down $0.13 on Friday, hitting $16.02. 99,567 shares of the company were exchanged, compared to its average volume of 1,958,080. Canada Goose has a 1-year low of $14.51 and a 1-year high of $24.73. The stock’s 50 day moving average price is $18.76 and its 200 day moving average price is $19.04. The company has a current ratio of 2.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $1.68 billion, a P/E ratio of 33.65, a price-to-earnings-growth ratio of 0.48 and a beta of 1.63.

Canada Goose (NYSE:GOOS – Get Rating) last issued its earnings results on Thursday, May 18th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. The firm had revenue of $216.84 million for the quarter. Canada Goose had a return on equity of 25.45% and a net margin of 5.58%. Sell-side analysts predict that Canada Goose will post 1.06 EPS for the current year.

Institutional Trading of Canada Goose

A number of institutional investors have recently made changes to their positions in GOOS. Squarepoint Ops LLC boosted its position in shares of Canada Goose by 16.2% during the 1st quarter. Squarepoint Ops LLC now owns 25,482 shares of the company’s stock valued at $491,000 after acquiring an additional 3,546 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in Canada Goose in the first quarter worth approximately $3,267,000. Seven Eight Capital LP purchased a new position in Canada Goose in the first quarter worth approximately $303,000. Wasatch Advisors LP grew its position in Canada Goose by 27.6% in the first quarter. Wasatch Advisors LP now owns 1,237,176 shares of the company’s stock worth $23,790,000 after acquiring an additional 267,606 shares during the period. Finally, Stifel Financial Corp grew its position in Canada Goose by 12.2% in the first quarter. Stifel Financial Corp now owns 13,975 shares of the company’s stock worth $269,000 after acquiring an additional 1,519 shares during the period. 42.79% of the stock is owned by institutional investors and hedge funds.

Canada Goose Company Profile

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Canada Goose Holdings, Inc engages in the design, manufacture, distribution, and retail of outerwear for men, women, and children. It operates through the following segments: Direct-to-Consumer, Wholesale, and Other. The Direct-to-Consumer segment comprises of sales through country-specific e-Commerce platforms and its company-owned retail stores located in luxury shopping locations.